Exelixis, Inc. Forecasted to Post Q4 2017 Earnings of $0.08 Per Share (EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at William Blair dropped their Q4 2017 earnings per share estimates for Exelixis in a research note issued on Tuesday. William Blair analyst A. Hsieh now anticipates that the biotechnology company will post earnings per share of $0.08 for the quarter, down from their previous estimate of $0.10. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Exelixis’ FY2019 earnings at $1.28 EPS.
Several other research firms have also commented on EXEL. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, October 10th. SunTrust Banks, Inc. lifted their price target on Exelixis from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC lifted their price target on Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday. Cann reaffirmed a “hold” rating on shares of Exelixis in a research report on Thursday, July 20th. Finally, BidaskClub raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Exelixis currently has an average rating of “Buy” and a consensus price target of $31.38.
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Shares of Exelixis (NASDAQ:EXEL) traded down 0.29% during midday trading on Thursday, reaching $27.45. The company had a trading volume of 1,032,234 shares. The stock has a market capitalization of $8.07 billion, a PE ratio of 138.64 and a beta of 1.91. Exelixis has a 52-week low of $10.04 and a 52-week high of $29.50. The company’s 50 day moving average price is $26.34 and its 200 day moving average price is $24.08.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue was up 173.1% on a year-over-year basis.
In other Exelixis news, Director Stelios Papadopoulos sold 10,000 shares of Exelixis stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $25.40, for a total value of $254,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gisela Schwab sold 100,000 shares of Exelixis stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $23.79, for a total value of $2,379,000.00. The disclosure for this sale can be found here. Insiders sold a total of 970,152 shares of company stock worth $25,923,457 over the last quarter. Company insiders own 5.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in EXEL. Ameriprise Financial Inc. grew its stake in shares of Exelixis by 4.8% in the 1st quarter. Ameriprise Financial Inc. now owns 396,970 shares of the biotechnology company’s stock valued at $8,601,000 after purchasing an additional 18,192 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Exelixis in the 1st quarter valued at approximately $1,156,000. Teachers Advisors LLC grew its stake in shares of Exelixis by 1.7% in the 1st quarter. Teachers Advisors LLC now owns 990,514 shares of the biotechnology company’s stock valued at $21,464,000 after purchasing an additional 16,690 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Exelixis by 1.3% in the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock valued at $1,834,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Exelixis in the 1st quarter valued at approximately $170,000. Institutional investors own 79.20% of the company’s stock.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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